IDEAL Group

IDEAL REAL ESTATES PRIVATE LIMITED

CORPORATE SOCIAL RESPONSIBILITY POLICY

Preamble:

Ideal Real Estates Private Limited was incorporated in 1988 (hereinafter referred to as ‘Company’). The Company’s business is of real estates engaged in construction, developments and sale of residential & commercial premises.

Ideal Real Estates Private Limited was incorporated in 1988 (hereinafter referred to as ‘Company’). The Company’s business is of real estates engaged in construction, developments and sale of residential & commercial premises.

Objectives:

The main objective of CSR Policy is to lay down guidelines for undertaking CSR initiatives in accordance to Companies Act, 2013 and rules made thereunder, for making sustainable growth along with sustainable development of society. The Company will act as a good Corporate Citizen, subscribing to the Global standards. It would also aim to minimize social risks associated with operations of the project site through the policies described in the document.

CSR Committee:

The CSR Committee shall consist of following Directors:

Mr. Srawan Kumar Himatsingka Chairperson & member Mr. Nakul Himatsingka Member Mr. Anuj Tulsyan. Member

The responsibilities committee was entrusted the following tasks.

  • Formulate and recommend to the Board the CSR Policy which shall indicate the activities to be undertaken by the company.
  • Recommend the amount of expenditure to be incurred on CSR activities
  • Monitor the CSR activities of the company time to time

Focus areas and Activities to be undertaken:

The Company shall undertake CSR activities in following areas:

  • Promotion of Education, improving infrastructure of schools or educational institutions and provide support to girls from under privileged backward section of society pursuing education.
  • Promoting preventive Health care, sanitation, safe drinking water facilities
  • Rural development programs, eradication hunger, poverty and malnutrition
  • Promoting Women Empowerment and social equality, supporting old age homes, orphanages, blind schools
  • (e) Conservation of natural resources and ensuring environment sustainability, animal welfare, protecting flora and funal

On recommendation of the CSR committee the Company may undertake these activities directly or through NGO/charitable/non-profit organisations.

Funding:

In line with the provisions of section 135 of the Companies Act, 2013, on recommendation of CSR committee the Board shall allocate up to 2% of average net profit during last three financial years, for CSR budget for each financial year. In case the Company is unable to spend the budget amount, the same shall be spent in the subsequent years.

Implementation and Monitoring:

In line with the guidelines framed by CSR Committee shall assess the various CSR activities proposed to be undertaken. The CSR committee shall regularly overview the status of CSR activities and recommend improvement measures to be taken.

CSR Report:

In terms of the requirement of section 135 of the Companies Act, 2013 and rules made there under CSR Report shall be prepared on annual basis as prescribed there under and shall be annexed with the Annual Report of the Company. CSR Committee shall also submit a responsibility statement that CSR policy has been followed in letter and spirit in compliance with CSR Objectives.

Changes/ Modification:

Changes in CSR Policy can be made on the recommendation of CSR Committee by the Board of the Company. Updated CSR Policy shall be placed on website and informed to all concerned.

SUMMARY FOR CSR

M/s ideal real Estates limited having registered office 50, Jawahar Lal Nehru Road Kolkata -700071 engaged in Real estates, Development, Construction & sale of the residential flats organized CSR activates s for Approval project for CSR Activities - girls hostel for poor and backward class girls students from under privileged and backward section at Gopalpur Rajahat, Kolkata, West Bengal, for financial year 20-21

CSR Vision Statement & Objectives:

Vision Statement - IREPL, through its CSR initiatives, will continue to enhance value, Creation in the society and in the community in which it operates, through its services, conduct & Initiatives, so as to promote sustained growth for the society and community, in fulfillment its role as a Socially Responsible Corporate, with environmental concern Objectives in an economically, socially & environmentally sustainable manner, while recognizing the interests of all its stakeholders work centers and results, over a period of time, in enhancing the quality of life & economic well‐being of the local populace Stakeholders and help reinforce a positive & socially responsible image of IREPLas a corporate entity

Objective:

The following activities can be performed by a company to accomplish its CSR obligations:

  • Eradicating extreme hunger and poverty
  • Promotion of education
  • Promoting gender equality and empowering women
  • Reducing child mortality
  • Improving maternal health
  • Combating human immunodeficiency virus, acquired, immune deficiency syndrome, malaria and other diseases
  • Ensuring environmental sustainability,
  • Employment enhancing vocational skills, social business projects
  • Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government or the State Governments for socio-economic development, and
  • Relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women and such other matters as may be prescribed.

Composition of CSR Committee of the Board:

The composition of the CSR Committee:

Sl. No. Name of Director Designation Number of meetings of CSR Committee held during the year Number of meetings of CSR Committee attended during the year
1. Srawan Kumar Himatsingka Chairman & Member 3 3
2. Nakul Himatsingka Member 3 3
3. Anuj Tulsyan Member 3 3

The Board of Directors of the Company has taken up a project for construction of Girl Hostel in Gopalpur (Kolkata) for the poor and backward class girl students. The MOU of Land Purchase for the said hostel was executed on 10th February, 2021 and the Project report was approved by the CSR committee and Board was on 31st March, 2021 CSR Activities to be done by the company in form of this project is expected to be completed till 2024.